10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001615774-17-002469`
Period End Date	20170331
Filing Date	20170516
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	opxs-20170402.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 60 Cash Flow Statement 61

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.63M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$596.00K	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.10M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$1.78M	USD	Point-in-time
Net Inventory	`InventoryNet`	$6.21M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.17M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	1,001.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$120.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$62.00K	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Current Assets	`AssetsCurrent`	$11.00M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Current Assets	`AssetsCurrent`	$10.64M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.27M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.19M	shares	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.65M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.61M	USD	Point-in-time
994	`CommonStockSharesOutstanding`	8.27M	shares	Point-in-time
994	`CommonStockSharesOutstanding`	8.19M	shares	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$90.00K	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$75.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$98.00K	USD	Point-in-time
Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$113.00K	USD	Point-in-time
Total Assets	`Assets`	$12.35M	USD	Point-in-time
Total Assets	`Assets`	$12.76M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$531.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$706.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$754.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$810.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$28.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$28.00K	USD	Point-in-time
Customer Advance Deposits	`CustomerAdvancesAndDepositsCurrent`	$559.00K	USD	Point-in-time
Customer Advance Deposits	`CustomerAdvancesAndDepositsCurrent`	$577.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$300.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$300.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.19M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$3.12M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$2.76M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.95M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.52M	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,190,101 and 8,266,601 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,190,101 and 8,266,601 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.84M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.88M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-19.44M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-19.65M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$7.40M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$7.24M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.35M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.76M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$7.55M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$4.04M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$6.43M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$3.22M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.27M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$5.45M	USD	2 Qtrs
Cost of Sales	`CostOfGoodsAndServicesSold`	$2.70M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$6.01M	USD	2 Qtrs
Gross Margin	`GrossProfit`	$981.00K	USD	2 Qtrs
Gross Margin	`GrossProfit`	$515.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$769.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$1.54M	USD	2 Qtrs
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$828.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$1.52M	USD	2 Qtrs
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$840.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$1.68M	USD	2 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-313.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-71.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-541.00K	USD	2 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-143.00K	USD	2 Qtrs
Gain (loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Gain (loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Gain (loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-72.00K	USD	1 Quarter
Gain (loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$358.00K	USD	2 Qtrs
Interest (Expense) Income	`InterestExpense`	$-3.00K	USD	1 Quarter
Interest (Expense) Income	`InterestExpense`	$15.00K	USD	2 Qtrs
Interest (Expense) Income	`InterestExpense`	$10.00K	USD	2 Qtrs
Interest (Expense) Income	`InterestExpense`	$6.00K	USD	1 Quarter
Other Income (Expense)	`NonoperatingIncomeExpense`	$-15.00K	USD	2 Qtrs
Other Income (Expense)	`NonoperatingIncomeExpense`	$-78.00K	USD	1 Quarter
Other Income (Expense)	`NonoperatingIncomeExpense`	$348.00K	USD	2 Qtrs
Other Income (Expense)	`NonoperatingIncomeExpense`	$3.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-149.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$205.00K	USD	2 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-556.00K	USD	2 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-310.00K	USD	1 Quarter
Deferred Income Taxes (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Deferred Income Taxes (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Deferred Income Taxes (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred Income Taxes (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income (Loss) After Taxes	`NetIncomeLoss`	$205.00K	USD	2 Qtrs
Net Income (Loss) After Taxes	`NetIncomeLoss`	$-556.00K	USD	2 Qtrs
Net Income (Loss) After Taxes	`NetIncomeLoss`	$-149.00K	USD	1 Quarter
Net Income (Loss) After Taxes	`NetIncomeLoss`	$-310.00K	USD	1 Quarter
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.90	USD	1 Quarter
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.03	USD	2 Qtrs
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.66	USD	2 Qtrs
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted Average Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	335,625.00	shares	2 Qtrs
Weighted Average Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.19M	shares	1 Quarter
Weighted Average Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	344,881.00	shares	1 Quarter
Weighted Average Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.18M	shares	2 Qtrs
Diluted income (loss) per share (in dollars per shares)	`EarningsPerShareDiluted`	$0.02	USD	2 Qtrs
Diluted income (loss) per share (in dollars per shares)	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted income (loss) per share (in dollars per shares)	`EarningsPerShareDiluted`	$-1.66	USD	2 Qtrs
Diluted income (loss) per share (in dollars per shares)	`EarningsPerShareDiluted`	$-0.90	USD	1 Quarter
Weighted average common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.61M	shares	2 Qtrs
Weighted average common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	344,881.00	shares	1 Quarter
Weighted average common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	335,625.00	shares	2 Qtrs
Weighted average common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.19M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$205.00K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-556.00K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-149.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-310.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$86.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$172.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$168.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$85.00K	USD	1 Quarter
(Gain) on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
(Gain) on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
(Gain) on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$-72.00K	USD	1 Quarter
(Gain) on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$358.00K	USD	2 Qtrs
Noncash interest expense	`NoncashInterestExpense`	$1.00K	USD	2 Qtrs
Noncash interest expense	`NoncashInterestExpense`	$-12.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$24.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$114.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$65.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$48.00K	USD	2 Qtrs
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-161.00K	USD	2 Qtrs
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.21M	USD	2 Qtrs
(Increase) in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$1.48M	USD	2 Qtrs
(Increase) in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$960.00K	USD	2 Qtrs
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-49.00K	USD	2 Qtrs
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-58.00K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-233.00K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$843.00K	USD	2 Qtrs
Decrease in prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyalties`	$-15.00K	USD	2 Qtrs
Decrease in prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyalties`	$-15.00K	USD	2 Qtrs
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-332.00K	USD	2 Qtrs
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$18.00K	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$508.00K	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.02M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-48.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-811.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$130.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-130.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-19.00K	USD	2 Qtrs
Proceeds (to) credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$-20.00K	USD	2 Qtrs
Proceeds (to) credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	-	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-20.00K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-87.00K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-941.00K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.63M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$596.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.63M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$596.00K	USD	Point-in-time
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	-	USD	2 Qtrs
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	$155.00K	USD	2 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$90.00K	USD	2 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$3.17M	USD	2 Qtrs
Cash paid for taxes withheld on officer restricted stock unit net share issue	`IncomeTaxesPaid`	$15.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$9.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$28.00K	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.